SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by Board of Sterlin...
September 16 2013 - 10:59AM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Sterling Financial Corporation (“Sterling” or the “Company”)
(NasdaqCM: STSA) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company
to Umpqua Holdings Corp. (“Umpqua”) (NasdaqGS: UMPQ).
Click here to learn more about the investigation
http://zlk.9nl.com/sterling-financial-stsa/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Sterling shareholders will
receive 1.671 shares of Umpqua common stock and $2.18 in cash for
each share of Sterling stock they own; based upon closing prices of
Umpqua as of September 11, 2013, this represents a value of $30.52
per share. The transaction has a total approximate value of $2
billion. The investigation concerns, among other things, whether
the consideration to be paid to Sterling shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
Sterling, and whether the Sterling Board is acting in Sterling
shareholders’ best interests. In particular, institutional
investors representing 20.8% of the Company’s shares have already
agreed to support the transaction in exchange for the ability to
designate a member to the post-merger Board of Directors.
If you own Sterling common stock and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://zlk.9nl.com/sterling-financial-stsa/.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities
and shareholder lawsuits. For more information, please feel free to
contact any of the attorneys listed below. Attorney advertising.
Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212)
363-7171www.zlk.com
Satsuma Pharmaceuticals (NASDAQ:STSA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Satsuma Pharmaceuticals (NASDAQ:STSA)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Satsuma Pharmaceuticals Inc (NASDAQ): 0 recent articles
More Levi & Korsinsky News Articles